The Florida Office of Insurance Regulation is set to hear a request in Miami on Thursday by Florida Blue to reorganize.

Regulators will weigh a proposal to turn the insurer into a policyholder-owned, nonprofit mutual insurance holding company, the South Florida Business Journal said. With the reorganization plan, the insurer will be able to buy other nonprofit organizations and insurers in Florida. Governed by the OIR, the domestic health insurance company covers about 1.3 million in the Sunshine State, includingthose in the individual, small and large group markets.

According to the company, reorganization plans will not affect its health provider network or services to its customers. The hearing is scheduled to begin at 5:30 p.m.in the Miami-Dade College Wolfson Campus in downtown Miami, the Business Journal said.

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